Bitcoin must be regulated, the president of the European Central Bank thinks

bitcoin, cryptocurrency

Christine Lagarde, President of the European Central Bank, made a relatively strong statement to Bitcoin. According to her, the most widespread cryptocurrency has been used for unfair purposes in the past and should therefore be subject to global regulation.

Bitcoin is no longer a matter of just a select few. Today, it is also bought by ordinary people, but also by investment funds and other institutional investors. Someone even got into debt to invest in Bitcoin. However, the anonymous nature of this cryptocurrency may create scope for money laundering or the financing of other illegal activities.

Christine Lagarde, President of the European Central Bank, has such an opinion on Bitcoin. “Bitcoin is a highly speculative asset that in the past also served as a completely criminal activity in the field of money laundering,” she told Reuters. Although she did not give specific examples, she is said to know that such cases have been investigated in the past.

Therefore, it is necessary for Bitcoin to be regulated. “There has to be regulated and it has to be applied at the global level because if (Bitcoin) allows illegal activity, it will happen,” Lagarde said.


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